New Products Launch and Increasing & Production capacities

December 20, 2017: STARLITE set to launch new range of home and office automation products and intends to increase its manufacturing capacities, post favorable government policy change

Automation Products: India is one of the fastest markets for lOT (Internet of Things) and yet the market is still at a very nascent stage. With the growing income of households and increasing penetration of technology the desire and demand for Smart technologies is seeing a strong pull. At Starlite we want to be among the first movers and to make the most of this opportunity. The notion that people have about the cost or complexity that any automation involves is going to change once they realize that how easy and surprisingly economic it can be.

Starlite is launching a new range of home and office automation products at an aggressive price range in the coming (fourth) quarter. The objective is to enter the market at a price point where home and office automation become affordable to everyone interested in exploring the power and convenience of IOT. The range of products to be launched will cover Sensors, Smart Gateway, Remote Controls and Automation Modules.

Government Policy: Starlite strives to continuously invest in upgradation of its production capacities and expand product lines to meet the growing demand from customers both in private and government sector. The recent announcement by the government about the increase in taxation, which doubles the duty on the import of finished LED products, is going to give a strong boost to Starlite and other manufactures in India. The market will see a surge in demand for local manufacturing.

To capitalize on this opportunity Starlite intends to double its manufacturing capacity in the next 6 to 12 months. This will help Starlite in increasing its top line and also being able to serve more customers. Further, to meet growing demand, new product variants are under development which is being rolled out every month.

About Starlite Components Limited:

Starlite Components Limited was incorporated in 1991 and started the company as a component supplier to lighting manufacturing companies. Since then we have grown from being component supplier to becoming one of the leading manufacturer of electronic and complete lighting products in the country. We have a state of the art setup for development and production of LED lamps, LED fixtures, electronic drivers, ballasts and many other products.

Starlite has been growing consistently over the years; H1 FY18 Total income grew to Rs. 25,21.82 Lacs as against Rs. 2049.71 Lacs in H1 FY2017 jump of ~24% y-o-y and PAT has grown from Rs. 98 lacs. to Rs. 151 lacs.